Focus Stocks

Trading Idea: - Is Juniper Networks close to Resistance?

Published on Wednesday, 06 February 2013 05:52
Written by TradersHuddle Wire

New York, February 6th (TradersHuddle.com) - Shares of Juniper Networks, Inc. (NASDAQ:JNPR) are trading
very close to calculated resistance at $22.98. The stock ended the trading session at just $22.39, which is near levels that make it difficult to buy or start a position.

Juniper Networks' stock range is defined by its calculated support defined at $19.55 and by the
resistance level at $22.98; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for Juniper Networks. However, as the stock pulls back towards $19.55 it
will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $22.98 then traders will get an opportunity to enter the stock as it moves to a higher range.